How to Set XAUUSD Trailing Stop Loss Order on MT4

How to Set a Trailing Stop Loss on MT4

XAUUSD trailing stop loss are stop loss orders in MetaTrader 4 platform that will be adjusted by a number of xauusd pips once the xauusd trade has moved in favor of the direction of the traders trade position.

For a buy gold trading trade the trailing stop loss trails the upwards trend and automatically closes the buy xauusd trade once the xauusd price starts to drop & move in opposite direction of your xauusd trade. The buy xauusd trade will be automatically closed once the xauusd price reaches your trailing stop loss level.

For a sell gold trading trade the trailing stop loss trails the downwards xauusd trend and automatically closes the sell xauusd trade once the xauusd price starts to rise & move in opposite direction of your xauusd trade. The sell xauusd trade will be automatically closed once the xauusd price reaches your trailing stop loss level.

Trailing stop loss order will be adjusted by a number of xauusd pips once the xauusd price moves in direction of the xauusd trade by a specified number of xauusd pips.

How to Set XAUUSD Trailing Stop Loss Orders on MT4

First open a new xauusd trade & once you've opened a new xauusd trade follow the step by step guide described below to set a xauusd trailing stop loss order for this new open xauusd trade in MetaTrader 4 xauusd Trading Platform

1. Right Click on the xauusd trade position
2. Select Trailing Stop option from the pop up menu that pops up
3. Select your trailing stop-loss value for the xauusd trade order
4. Click Ok to set the xauusd trailing stop loss order

You can also set this xauusd trailing stop loss order from the MetaTrader4 xauusd transactions window

1. Select the xauusd trade order you want to modify and set xauusd trailing stop loss
2. Right click on this gold trading trade
3. Select Modify Order
4. Select Trailing Stop from the pop up menu
5. Chose your trailing stop-loss value for this xauusd order
6. Click Ok to set the xauusd trailing stop loss order

How to Set a XAUUSD Trailing Stop Loss Order in MetaTrader 4